The New Urban Communities Authority (NUCA) announced that its board had approved the terms for the launch related to the sale of NUCA’s share in Rehab and Madinaty. The proceeds of the sale will be directed toward building 200,000 units under the government’s social housing programme. The price per sqm in Rehab has been set at USD960 (down from the original USD1,000) and USD710 for Madinaty, (down from USD770) for Egyptians abroad, and EGP7,500 and EGP5,500 (down from EGP7,960 and EGP6,210) for the locals, respectively. These prices related to cash transactions. Installments are up to five years for Rehab and seven years for Madinaty, with 40% to be paid in down-payments, with interest rates set at CBE lending rate + 2%. Discounts are also introduced for bulk sales, 2% for five units, 5% for 5-10 units and 7% to 10-20 units and 10% for more than 20 units. The total inventory of units for NUCA as part of its in-kind agreement with Talaat Moustafa Group (TMG) amounts to 10,680 units, of which 7,920 are in Madinaty (with unit sizes ranging between 58 sqm and 211 sqm), while the remaining 2,760 are in Rehab (with unit sizes ranging between 58 sqm and 162 sqm). (Al Mal)